Fifth Third to Give Workers $1,000 Bonus on Tax Overhaul Plan
December 20 2017 - 5:05PM
Dow Jones News
By Austen Hufford
Fifth Third Bancorp (FITB) said it was raising its minimum
hourly wage to $15 and would distribute a one-time bonus of $1,000
to more than 13,500 employees.
The company said Wednesday the tax-code overhaul bill, which
gained approval from both chambers of Congress this week, allowed
it the opportunity to re-evaluate its compensation structure.
President Donald Trump is expected to sign the bill.
Fifth Third joins AT&T Inc., which also said it would pay a
$1,000 bonus to more than 200,000 of its employees after Mr. Trump
signed the bill.
Fifth Third said if the legislation is signed into law, nearly
3,000 hourly employees will see their pay increased to $15 an
hour.
The company has about 18,000 employees.
Write to Austen Hufford at Austen.Hufford@wsj.com
(END) Dow Jones Newswires
December 20, 2017 16:50 ET (21:50 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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